Polymarket Hack: Third-Party Vulnerability Leaks Funds
After days of user complaints that their wallets were emptied after unexplained login attempts, Polymarket verified that a third-party authentication provider security weakness triggered a recent wave of wallet draining.
The decentralized prediction market platform stated the vulnerability is addressed and there is no ongoing risk, but it did not specify how many people were affected or how much money was lost.
After receiving repeated login notice emails without logging in, some X and Reddit users reported suspicious activities this week.
Many individuals reported logging in hours later to discover their positions closed and balances practically negative.
One Reddit user reported three login attempts while their email and other internet accounts were unharmed and their Polymarket funds were emptied at the same time.
Another user highlighted how the breach may have included platform one-time password system flaws.
Mt. Gox Hacker Dump $114M Bitcoin as Selloff Increases
Blockchain intelligence outfit Arkham Intelligence reported that alleged Mt. Gox hacker Aleksey Bilyuchenko transferred 1,300 BTC worth $114 million to unknown exchanges last week.
Since October distribution began, the wallets have sold 2,300 BTC and held 4,100 BTC worth $360 million.
The deposits accelerate a months-long planned selloff, according to Arkham analyst Emmett Gallic.
“The entity related to Aleksey Bilyuchenko has deposited another 1.3K $BTC ($114M) to the unknown exchanges in the past 7 days,” Gallic said, adding that total sales have reached 2,300 BTC while large holdings remain.
Possible Permanent Ban on Ordinals and NFT Transactions in Bitcoin Proposal
Developers are divided over a Bitcoin development plan to permanently remove Ordinals inscriptions and Bitcoin Stamps.
The consensus-level soft fork in the draft, called “The Cat,” would permanently unspend millions of dust-sized NFT outputs.
The proposal aims an unprecedented Bitcoin UTXO explosion, according to Claire Ostrom.
From 2009 to early 2023, the UTXO database grew to 80-90 million records.
Major regulatory crackdown hits 50 platforms, including Coinbase and Gemini in Philippines
National Telecommunications Commission ordered ISPs to immediately prohibit 50 online trading platforms identified by the Bangko Sentral ng Pilipinas as operating without authorization.
The central bank specifically requested that the NTC block the websites and apps of unlicensed virtual asset service providers as part of its continuous enforcement of local registration and licensing laws.
The NTC bases the action on updated financial regulations under BSP Circular No. 1206, which governs virtual asset providers in the country.
The framework emphasizes consumer protection, financial stability, and the central bank's authority to supervise money services and digital asset organizations under the New Central Bank Act.
Aave founder accused of ‘Governance Attack’ after $10M buy before crucial vote
Aave founder Stani Kulechov is under fire from the crypto community for buying $10 million in AAVE tokens before a crucial governance vote.
Critics say the decision was meant to boost his voting power rather than connect with token holders.
The claim came this week after decentralized finance strategist and liquidity specialist Robert Mullins remarked on X that the transaction appeared timed to sway a vote.
